A sustainable inventory model is developed for a single item with price-dependent demand and time-dependent holding cost. In any business, deterioration is imminent with time, but the chances of deterioration in the initial stage are much higher in electronic and semiconductor devices. This study integrates a two-parameter Weibull deterioration model to research such businesses. Investment in preservation technology is made to reduce the effect of deterioration on the model. Shortages are permitted in this paper and assumed to be partially backlogged. The suggested model is solved analytically to minimize the total cost as well as the optimal order quantity. Numerical experimentation is performed to authenticate the proposed model. Sensitivity and graphical analysis are carried out for the total cost function and order quantity to validate the proposed model. Managerial insights of this paper are discussed for better implementation.